Exchange Traded Concepts LLC Sells 44,684 Shares of Nuvation Bio Inc. (NYSE:NUVB)

Exchange Traded Concepts LLC reduced its holdings in Nuvation Bio Inc. (NYSE:NUVB) by 45.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,548 shares of the company’s stock after selling 44,684 shares during the period. Exchange Traded Concepts LLC’s holdings in Nuvation Bio were worth $125,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of Nuvation Bio by 125.8% in the third quarter. SG Americas Securities LLC now owns 72,057 shares of the company’s stock worth $165,000 after acquiring an additional 40,141 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Nuvation Bio in the 2nd quarter valued at $29,000. Algert Global LLC grew its position in Nuvation Bio by 281.0% in the 2nd quarter. Algert Global LLC now owns 426,603 shares of the company’s stock worth $1,246,000 after purchasing an additional 314,635 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Nuvation Bio by 252.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 76,494 shares of the company’s stock worth $223,000 after purchasing an additional 54,762 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Nuvation Bio by 508.1% during the 2nd quarter. AQR Capital Management LLC now owns 111,583 shares of the company’s stock worth $326,000 after purchasing an additional 93,233 shares during the period. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert Mashal bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.07% of the company’s stock.

Analyst Ratings Changes

NUVB has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Tuesday. HC Wainwright decreased their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.40.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.41 on Wednesday. Nuvation Bio Inc. has a 12-month low of $0.95 and a 12-month high of $4.16. The firm has a 50-day moving average price of $2.70 and a 200 day moving average price of $2.96.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The firm had revenue of $1.44 million during the quarter. As a group, equities analysts anticipate that Nuvation Bio Inc. will post -0.4 EPS for the current year.

Nuvation Bio Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.